Technical analysis and forecasts

Currencies are believed to move in cycles, which means that one may try to estimate and predict their future fluctuations. Technical analysis helps to look into behavior of currency pairs on the basis of traded value, movement direction, investors’ common interests, and fluctuations history.

Technical analysis offers a trader a range of patterns that can predict price movement. Some of them predict a price reversal in one direction or another, others - a repetition of changes. To make it easier to use technical analysis, there is a number of indicators that include several parameters from the price chart. So, both experienced and novice traders can resort to technical analysis - it is believed that both of them should be familiar with the basics of technical analysis. It should be noted that forecasts made based on technical analysis cannot be considered 100% accurate, but they can still make trading more efficient. This page presents conclusions and forecasts made by RoboForex experts based on tech analysis.

02.05.2013

Forex Technical Analysis 02.05.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

The EUR/USD currency pair reached the target of the continuation pattern at the level of 1.3097. We think, today the price may form a descending structure towards the level of 1.3100. Later, in our opinion, the pair may start a slight correction to reach the level of 1.3165 and then continue falling down towards the target at 1.2940.
02.05.2013

Fibonacci Retracements Analysis 02.05.2013 (EUR/USD, USD/CHF)

The pair rebounded from the level of 50% once again, but the correction may yet continue. However, if the bulls break this level, the price will continue growing up towards the level of 61.8%. I’m keeping my buy order opened, but if the correction takes more time that I expect, I’ll have to close the deal.
02.05.2013

Bill Williams’ Indicators Analysis 02.05.2013 (USD/CAD, NZD/USD)

At the H4 chart of the USD/CAD currency pair, the Alligator is still moving downwards. The angle of angulation is almost closed; AO and AC indicators are in the green zone; there is a Fade bar on the MFI, however there might be a Squat one too. A protective stop on my sell order has been moved to the Alligator’s teeth.
01.05.2013

Forex Technical Analysis 01.05.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

The EUR/USD currency pair continues forming an ascending wave; the price formed a consolidation channel and broke it upwards. We think, today the price may return to the level of 1.3120 and then start another ascending structure towards the target at 1.3195.
01.05.2013

Bill Williams’ Indicators Analysis 01.05.2013 (USD/CAD, NZD/USD)

At the H4 chart of the USD/CAD currency pair, the Alligator is still moving downwards. The angle of angulation is widening; the price finished a bearish fractal; AO and AC indicators are in the red zone; there is a Fade bar on the MFI. I’m keeping my sell order opened with the target below a bearish fractal.
01.05.2013

Fibonacci Retracements Analysis 01.05.2013 (EUR/USD, USD/CHF)

The market turned upside down. Euro started moving upwards and continued the correction. The target is at the level of 61.8%, where there are two more fibo-levels, which make this area even more important.
30.04.2013

Fibonacci Retracements Analysis 30.04.2013 (EUR/USD, USD/CHF)

Euro rebounded from the level of 38.2% once again. Later we can expect the pair to continue falling down. The target for the bears is the area, where there are 4 fibo-levels from different fibo-extensions and backward corrections.
30.04.2013

Forex Technical Analysis 30.04.2013 (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, GOLD)

The EUR/US currency pair completed an ascending wave. We think, today the price may start forming a descending structure, break the previous ascending channel, and reach the level of 1.3000. Later, in our opinion, the pair may return to the broken ascending channel and then continue falling down to renew the minimum of this wave at the level of 1.2940.